Turkey Regulator Demands Bank Asya Information Before Sukuks (1)

Bank Asya
Bank Asya


Date posted: April 25, 2014

ISTANBUL

Asya Katilim Bankasi AS (ASYAB), the Turkish lender in partnership talks with Qatar Islamic Bank, must ask the regulator for permission to issue further sukuk under a 1.25 billion-lira ($587 million) debt program.

Turkey’s Capital Markets Board has asked to be informed of future issues, Cengiz Onder, head of investor relations at Bank Asya, said in a phone interview today from Istanbul. An official at the board, asking not to be named under government policy, said it’s seeking further documentation from Bank Asya before sales can resume, without giving further comment.

The lender is a member of the Tuskon business group, representing companies whose executives sympathize with U.S.- based cleric Fethullah Gulen. Prime Minister Recep Tayyip Erdogan says Gulen’s followers are behind corruption allegations from December. Turkish newspaper Sabah reported today that the Capital Markets Board has stopped Bank Asya from issuing sukuk debt, without saying where it got the information.

Bank Asya has sold 550 million liras in sukuk debt in small amounts with short maturities, and the Sabah story was based on false “speculation” that it was being blocked from issuing more, Onder said. The bank’s core focus will be on attracting deposits, he said.

In the six weeks after the corruption allegations became public, Bank Asya fell more than any other company on the benchmark XU100 index. The bank’s share price then climbed the most in 6 years after news of talks with QIB emerged last month.

Source: Bloomberg , April 24, 2014


Related News

Once shut down by Taliban, now Afghan gov’t plans to hand over successful Turkish Schools to Turkish Gov’t

Afghanistan president Ashraf Ghani has agreed to hand over the Afghan-Turk schools, previously run by a pro-Gulen institution, to the Turkish Education Foundation which is a governmental institution. This step has, however, not been welcomed by the affected schools. Officials of the schools have warned that the move would lead to closing the schools and damage the quality of education.

Gülen’s critics have no supporting evidence, says academic

EMRE OĞUZ American sociology professor Helen Rose Ebaugh, who has written a book analyzing the Gülen movement, has said those criticizing the movement have no documents to back up their criticisms. Ebaugh, the author of a book titled “The Gülen Movement: A Sociological Analysis of a Civic Movement Rooted in Moderate Islam,” was speaking at […]

Police detain student over fingerprints on Gülen books

According to a report, the police were informed that books written by Turkish Islamic scholar Fethullah Gülen were thrown in the garbage by unidentified people in the Belediyeevleri neighborhood of the Canik district of Samsun province. After the investigation, fingerprints on the books were matched to those of A.E.A, a 22-year-old university student.

Turkey arrests Fethullah Gulen’s barber from 26 years ago

At least 16 people have been detained in the western province of Izmir, including a 50-year-old hairdresser, identified as İ.D., who used to give haircut to Fethullah Gülen during 1990s.

The Hizmet movement and participatory democracy

The Hizmet movement’s objections make an important contribution to the formation of participatory democracy in Turkey. So far, Turkish democracy was a game among political parties in the absence of a strong civil society and market actors.

The tragic story of a Turkish family fleeing to Greece from persecution

When the body of the 5-year-old Aylan Kurdi was found in the Greek island of Kos in 2015, Turkish president Erdoğan said: “What has drowned in the Mediterranean is not only the refugees. Humanity has drowned in the Mediterranean Sea.” However, President Erdoğan didn’t say a word about Turkish family’s tragedy, who were fleeing from the persecution of his own regime this time.

Latest News

Turkish inmate jailed over alleged Gülen links dies of heart attack in prison

Message of Condemnation and Condolences for Mass Shooting at Bondi Beach, Sydney

Media executive Hidayet Karaca marks 11th year in prison over alleged links to Gülen movement

ECtHR faults Turkey for convictions of 2,420 applicants over Gülen links in follow-up to 2023 judgment

New Book Exposes Erdoğan’s “Civil Death Project” Targeting the Hizmet Movement

European Human Rights Treaty Faces Legal And Political Tests

ECtHR rejects Turkey’s appeal, clearing path for retrials in Gülen-linked cases

Erdoğan’s Civil Death Project’ : The ‘politicide’ spanning more than a decade

Fethullah Gülen’s Vision and the Purpose of Hizmet

In Case You Missed It

AKP deputy: “Imprisoned Gulen supporters and PKK members will be massacred by furious mobs”

Questions for the government regarding prep school closure

Criticism and risks

MP close to Gülen quits ruling AKP, slams accusations against Islamic scholar

A Forum On Africa in Turkey (I)

Fethullah Gülen’s message to Turquiose Harmony Institute “Peace and Dialogue Awards”

Islam is compatible with Democracy, despite Turkey’s recent example

Copyright 2026 Hizmet News